Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in McEwen Inc. $MUX

Connor Clark & Lunn Investment Management Ltd. raised its stake in McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 15.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 459,289 shares of the basic materials company's stock after buying an additional 59,770 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.85% of McEwen worth $3,444,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. bought a new stake in shares of McEwen in the 1st quarter valued at about $545,000. GSA Capital Partners LLP grew its position in shares of McEwen by 53.3% in the 1st quarter. GSA Capital Partners LLP now owns 213,909 shares of the basic materials company's stock valued at $1,615,000 after buying an additional 74,401 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of McEwen in the 1st quarter valued at about $378,000. Private Advisor Group LLC grew its position in shares of McEwen by 16.6% in the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after buying an additional 2,098 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of McEwen by 9,935.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company's stock valued at $108,000 after buying an additional 14,207 shares during the last quarter. Institutional investors own 17.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on MUX shares. National Bank Financial upgraded McEwen to a "strong-buy" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. National Bankshares restated an "outperform" rating on shares of McEwen in a research report on Wednesday, July 16th. Roth Capital set a $15.00 target price on McEwen and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, HC Wainwright boosted their price target on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

McEwen Trading Up 4.0%

MUX traded up $0.41 during trading on Monday, hitting $10.59. The company's stock had a trading volume of 1,207,032 shares, compared to its average volume of 856,086. McEwen Inc. has a twelve month low of $6.38 and a twelve month high of $11.80. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average price is $10.37 and its 200-day moving average price is $8.61. The firm has a market capitalization of $572.71 million, a P/E ratio of -42.34 and a beta of 0.88.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. The business had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. Analysts anticipate that McEwen Inc. will post -0.72 EPS for the current year.

Insider Transactions at McEwen

In other McEwen news, Director Ian J. Ball sold 2,656 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total value of $27,861.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 16.10% of the company's stock.

About McEwen

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.